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Wednesday

'What Senate plans to do about economic recession in Nigeria’ – Senate President Bukola Saraki

Senate President Bukola Saraki has said that the Senate will respond to the economic crisis in the country as soon as they resume sitting next week. Saraki who made this known at an interactive press briefing with media correspondents in Kwara State on Monday, added that the time for identifying the cause of the economic recession and those responsible was over and that all political leaders should start working together to find a solution.

“We are going to have an exhaustive and comprehensive debate on fixing the country’s economy when we resume next week. We understand the pains that Nigerians are feeling and we do not take this for granted.

“Additionally, the Senate intends to invite everybody involved in the management of the economy to address the Nigerian people through the parliament on the steps that are being taken to get us out of this mess. We fully intend to hold all those involved in the economic management of the country accountable - However, we will do so in a manner that is transparent and there will be no cover-up. We will make tough recommendations as necessary”, he added.

The Senate President said it was equally important to begin to interrogate what happened to the measures aimed at cushioning the effect of the recession built into the 2016 budget and why they have not been implemented.

“We need to know why the promises of external borrowing has not materialised, why devaluation has not helped to strengthen the Naira, why inflow of foreign currency has continued to dry up and interest rate is still very high. Doing this will help us to understand where we are, so that we can determine where exactly we want to go from here.

“In every crisis, there is always an opportunity for positive reforms, in this regard, in order to solve this crisis, all hands must be on deck. Ideas should be sourced from all quarters. All arms of government, people of different political beliefs, from all socio-economic backgrounds and every part of Nigeria must work together at this time” he said.

He also appealed to politicians causing divisions among legislative members to tread with caution;

“I want to use this opportunity to advise those politicians who specialise in causing division between the executive and legislature for their personal benefit to know that this is not the right time for them to ply their trade. We need all arms and levels of government to work together with the people because we are in an economic emergency and all hands must be on deck”, he said.